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More time at home means many Australians now have the opportunity to re-assess their lifestyle and spending habits and set some serious saving goals. So how can you actually go about it?

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In this episode of The nestegg Podcast, host Grace Ormsby is joined by Melbourne-based Reventon’s Billie Christofi to talk all things finance and the impact of isolation on our hip pockets.

In stage 4 lockdown, Billie shares the importance of going back to basics when it comes to budgeting, methods to re-assess spending habits, and some of the less conventional ways people can boost their wealth at this time.

Thanks Billie, for sharing your insights with the nestegg podcast team!

Have an investment story to share? Get in touch at [email protected] and you might get featured on an upcoming episode!

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Retirement

5 habits of financially confident people

By Reporter

August 28 2017
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Retirement

5 habits of financially confident people

By Reporter
August 28 2017

Australians with the lowest levels of financial stress also share a number of personal characteristics, according to a new report.

FPA, Financial Planning Association, Dante De Gori, retirement planning, retirement savings, wealth management

5 habits of financially confident people

By Reporter

August 28 2017
Share

Australians with the lowest levels of financial stress also share a number of personal characteristics, according to a new report.

A survey of Australian’s financial position conducted by the Financial Planning Association (FPA) found that around one in four believed themselves to be “living the dream” – which they defined as having the lifestyle of their choosing, having financial freedom, and having safety and security.

Digging deeper into their data, the FPA found four distinct personality types when it came to managing finances — the cruiser, the daydreamer, the builder, and the go-getter, and the percentage of each of these groups that had achieved that ideal lifestyle differed greatly between personality groups.

Only 8 per cent of cruisers were living their ideal lifestyle, with twice as many daydreamers (16 per cent) having achieved their dream life, marginally behind the builders, of whom 18 per cent said they were living the lifestyle they wanted.

Go-getters, however, were much more likely to report that they were living the dream, with 37 per cent saying they had achieved their ideal lifestyle, and 72 per cent saying they were financially secure (followed by builders with 62 per cent saying they were secure).

Interestingly, the research highlighted five personal characteristics that these go-getters were more likely to display than any other of the personality types, noting members of this group were more likely to do the following at least five times in any giving week:

50 per cent of go-getters wake up before 7am.
44 per cent of go-getters spend quality time with their family.
19 per cent take time to plan out their diary.
16 per cent take part in some kind of spiritual activity or meditation.
11 per cent eat out at restaurants.

Additionally, go-getters were the most likely to believe they had the personal capacity create the life they wanted, but were less likely to attribute success to natural intelligence than daydreamers and builders.

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